AFS releases platform-independent cheque image exchange system
04 February 2004 | 2355 views | 0
Oklahoma-based Advanced Financial Solutions (AFS) has released xVision, a platform-independent application that enables financial firms to exchange cheque images using legacy applications.
Aimed at the top-tier financial institutions in the US, xVision enables firms to exchange cheque images despite any systems or processing differences.
The software is designed to isolate a firm's cheque capture and posting system from the cheque image exchange network and allow the bank to receive electronic cash letters with minimal modification to its current systems. The system receives electronic data, with or without cheque images, and imports and stores that data in a warehouse.
AFS xVision performs 31 tests for image quality and usability on each item in real time. Exceptions are flagged for return to the presenting institution while all other items are carried forward, with any suspect items flagged for inspection, along with data about any failed tests.
Images are exported to the appropriate banking system for posting or forwarded to the cheque image exchange network.
Steve Winkler, AFS general manager, large banking division, AFS, says: "With the decline in the volume of paper cheques it is imperative for banks to reduce their cost per transaction while containing technology expenditures related to adapting new image-based processes and platforms.
"AFS xVision is the ideal solution, allowing banks to exchange cheque images with other institutions with very limited change to the existing cheque imaging software."